The General Affairs Council meeting of 23 July celebrated Lithuania’s entry into the euro area. Ministers also discussed the Italian presidency work programme and the mid-term review of the Europe 2020 strategy.
On 1 January 2015, Lithuania will become the 19th member state to adopt the euro.
“Lithuania’s consistent efforts have paid off: today the eurozone has opened the door for us,” said Algirdas Butkevičius, Prime Minister of Lithuania, at the meeting of EU ministers.
The entry of Lithuania into the euro family is of great importance for the whole euro area.
“It’s a demonstration of the continuing attractiveness of the single currency project and its relevance for the future of our community,” said Sandro Gozi, State Secretary for European Affairs of Italy and President of the Council of the EU.
The conversion rate has been set at 3.45280 Lithuanian litas to the euro.